Most people do not know the importance of know your credit score and the benefits that come with it.

What is a credit report? This is question that s asked by most individual and answer to this is a simple one.

A credit report is a detailed report that contains all the credit history of an individual a credit report is an indication of your payment habits and it also has your defaults so it shows everything with regard to your credit history. Who compiles a credit report you may ask, well a credit report is compiled by the credit bureau a credit report includes the following

Personal information: such as you’re (ID Number, current and previous address, etc.)

Summary of credit history: the number and type of accounts that the individual has, that are past due or in good standing.

Details of any accounts that have been handed over to the credit agency such as(such as information about liens, in-arrears wages garnishments via federal, state or county records)

Information on how to dispute any of the above information if the individual see any irregularities.

Most often than not people confuse a credit report with credit history and vice versa, to clarify between the two a clear understanding of what credit history refers to is needed.

What is a ‘Credit History’?

A credit history refers to the history of an individual and their ability to repay their debts this include accounts, loans , bonds and any credit facility that the individual may take on credit. A customer’s credit history contains information such as:

The number of accounts a customers may take the accounts can be past and current

The type of accounts that the customer has taken in the past and currently

The period in which the account has been opened

Whether the bills are paid on time and to the correct amount avoid arrears

Number of recent credit inquires

An bankruptcies or lent, judgement or collections

This information is contained in the credit report

Benefits of getting a credit report…

Knowing your credit score has a benefits to mention a few knowing your credit score allows you to know where your credit stats is this is useful if you want to take out credit for a new property or whatever that you require credit for.

It also allows to see if they are any irregularities in your credit history making it easy to detect if they is any illegal activities that is occurring under your name and not of your doings

It also allows to see how many default you have against your name and how many of your accounts are in arrears before creditors take legal action against you.

Knowing the number of accounts that you have past and current, etc.

Getting a credit report allows the chance to see in terms of the credit bureau where you stand in terms of getting credit this gives a clear mind set of whether you can apply for mortgage loans, car finances or any other credit item that you desire

Know you credit score today get a credit report for onR25.00 click the link here or goto: https://www.taconsulting.co.za/itc-check/